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Newsmaker BJP Prime Ministerial candidate Narendra Modi is among Time magazine's shortlisted candidates for its 'Person of the Year' title and has emerged as an early favourite among the readers in an online poll.

Time has shortlisted 42 global leaders, entrepreneurs and celebrities, including Narendra Modi, for its 'Person of the Year 2013' and will announce the winner next month.

Other candidates in fray are Japan's Prime Minister Shinzo Abe, US President Barack Obama, Pakistani teenage education activist Malala Yousafzai, Amazon CEO Jeff Bezos, NSA whistleblower Edward Snowden and even the new heir to the British throne Prince George.

On Narendra Modi, Time said "the controversial Hindu nationalist and Chief Minister of the Indian state of Gujarat is the most likely candidate to unseat India's ruling Congress party in the world's largest democracy."

Narendra Modi is the only Indian in the shortlist.

While Time's editors will choose the winner, it has asked readers to cast their votes for the person they think "most influenced the news this year for better or worse".

So far Narendra Modi has got over 2650 votes and with about 25 per cent, is leading the online readers' poll. Narendra Modi is way ahead with Snowden, who garnered the second highest number of votes at about 7 per cent as on November 20.

Obama, who has twice been named 'Person of the Year', is in the shortlist with the US magazine saying the President's "second term started with a slew of self-inflicted wounds and unfulfilled promise(s), from an IRS scandal and stalled immigration reform to the bungled Obamacare launch".